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b'Looking at our Best of Killer Innovations Series, we examine the dynamic nature of innovation and how to manage changing cycles best so that you and your ventures can succeed.
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\\nToday\'s latest innovation can quickly be replaced with the next best thing tomorrow. \\xa0Whether you\'re a newcomer to innovation or a seasoned innovator, there\'s something every innovator should know. \\xa0How to forecast and survive\\xa0cycles of innovation. \\xa0This week Ray Zinn, longest serving CEO of a publicly traded company in Silicon Valley, shares his insights\\u2014Ray\'s astute ability to forecast\\xa0what was coming enabled his company to survive the innovation cycles.
\\nSage Advice: Don\'t Work for Someone Else
\\nIn 1974, Ray\'s boss conveyed a bit of advice. \\xa0Don\'t work for someone else. This advice set Ray on the entrepreneurial path. \\xa0He started his own company. With $300,000 of self-funding, he started doing test services. \\xa0It was challenging to start a company that was profitable from day one. Ray and his business partner managed it. \\xa0By 1985, their company, Micrel Inc., hired engineers and started designing their products. Eventually, Samsung selected Micrel technology for their first cell phones. \\xa0With blue chip clients, numerous inventions, and patents in wireless radio and other areas, Micrel went public in 1994. Micrel was profitable every year through 2001. Although Ray had to rebuild the whole company, it remained profitable.
\\nForecasting Innovation Cycles
\\nHow do you lead companies through the high rate of innovation change? \\xa0Ray was able to accomplish this. Ray learned the cycles of innovation so he could forecast them. \\xa0You have to know the cycles to\\xa0predict\\xa0them for your company. \\xa0How do you do this? Your\\xa0customers are your best lead. \\xa0The key to surviving these cycles is understanding them. \\xa0Cycles\\xa0last at the most five years. \\xa0You must anticipate what is going to be the following winning product.
\\nGetting Your Board Right
\\nWhat were the insights Ray wished he had early on? \\xa0Be careful about your Board. He elaborated on his biggest mistake \\u2013 \\xa0not being more selective about his\\xa0Board of Director participation. \\xa0Having a viable, helpful, and contributable Board is critical. \\xa0You want members who roll up their sleeves and add value where needed. \\xa0You don\'t need board members to pick you apart and create tension. Ray believes that Boards must focus less on what investors or shareholders want. \\xa0They must emphasize what is best for the company and adds sustainable value. Boards should not be too independent. Independence leads to disconnect and a lack of understanding of a company\'s intricacies and operations.
\\nWith his wealth of experience in the heart of the world\'s startup capital, Ray wanted to give back. \\xa0He created the\\xa0Zinn Starter, a seed investment firm akin to\\xa0Shark Tank\\xa0for universities. Almost every university in this country has an entrepreneur program. \\xa0The Zinn Starter consists of students taking their business ideas before a Board. If the Board approves the concept, the student can start a company while still a student. \\xa0Zinn Starter is limited to fully enrolled university students. It is part of the entrepreneur program for six universities. The program has been running for two years, with over five thousand students participating.
\\nRay has also written a book called\\xa0Tough Things First.'